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Politics : Sioux Nation
DJT 14.00+0.7%3:59 PM EST
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To: geode00 who wrote (56003)1/24/2006 12:19:20 PM
From: Rock_nj  Read Replies (3) of 362281
 
Don't worry. With gasoline hovering around $2.30/gallon in late January (about 50 cents higher than this time last year), it is highly likely that gasoline will be selling for $3.00/gallon + this summer, as demand picks up.

This is without considering other service disruptions from oil producing nations or hurricanes. I just heard on the radio the other day that the U.S. government Minerals Service said 1/6th of the Gulf Coast oil supplies will still be offline this summer, as they recover from last year's spate of storms.

$3.00/gallon + gasoline this summer seems like a pretty safe bet. If Iran embargoes oil or Venezula decides to cut off he U.S. and sell to China, then $3.00/gallon + gasoline will come a lot sooner.

One thing that has changed recently, is that oil producing countries had to do business with the U.S. because we were the largest consumer of oil. But now they can sell to China and India and eventually cut off the U.S. if they like.

The big winners when $3.00/gallon + gasoline returns this summer will be hybrid cars. The big losers will be large SUVs. Sure, people can write off a brief price spike after hurricanes. But three months of $3.00/gallon + gasoline this summer would definitely change some people's buying habits.
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